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USDA's WASDE and Crop Production reports are previewed, with analysts expecting larger US corn and soybean supplies after yields beat expectations. Corn yield could rise to a record 176.9 bushels per acre, and soybeans look more bearish than corn.
Expected bigger US supplies point to bearish pressure on feed grain and soybean meal prices ahead of the report.
farmprogress.comJacqueline HollandNov 8, 2021After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
